Value Processingin Organizations - Individual Perceptions in Three Case Companies

Values and value processes are said to be needed in every organization nowadays, as the world is changing and companies have to have something to "keep it together". Organizational values, which are approvedand used by the personnel, could be the key. Every organization has values. But what is the real value of values? The greatest and most crucial challenge is the feasibility of the value process. The main point in this thesis is tostudy how organizational members at different hierarchical levels perceive values and value processes in their organizations. This includes themes such as how values are disseminated, the targets of value processing, factors that affect the process, problems that occur during the value implementation and improvements that could be made when organizational values are implemented. These subjects are studied from the perspective of organizational members (both managers and employees); individuals in the organizations. The aim is to get the insider-perspective on value processing, from multiple hierarchical levels. In this research I study three different organizations (forest industry, bank and retail cooperative) and their value processes. The data is gathered from companies interviewing personnel in the head office and at the local level. The individuals areseen as members of organizations, and the cultural aspect is topical throughout the whole study. Values and cultures are seen as the 'actuality of reality' of organizations, interpreted by organizational members. The three case companies were chosen because they represented different lines of business and they all implemented value processing differently. Sincethe emphasis in this study is at the local level, the similar size of the local units was also an important factor. Values are in 'fashion' -but what does the fashion tell us about the real corporate practices? In annual reports companies emphasize the importance and power of official values. But what is the real 'point' of values? Values are publicly respected and advertised, but still it seems that the words do not meet the deeds. There is a clear conflict between theoretical, official and substantive organizational values: in the value processing from words to real action. This contradiction in value processing is studied through individual perceptions in this study. I study the kinds of perceptions organizationalmembers have when values are processed from the head office to the local level: the official value process is studied from the individual's perspective. Value management has been studied more during the 1990's. The emphasis has usually been on managers: how they consider the values in organizations and what effects it has on the management. Recent literature has emphasized values as tools for improving company performance. The value implementation as a process has been studied through 'good' and 'bad' examples, as if one successful value process could be copied to all organizations. Each company is different with different cultures and personnel, so no all-powerful way of processing values exists. In this study, the organizational members' perceptions at different hierarchical levels are emphasized. Still, managers are also interviewed; this is done since managerial roles in value dissemination are crucial. Organizational values cannot be well disseminated without management; this has been proved in several earlier studies (e.g. Kunda 1992, Martin 1992, Parker 2000). Recent literature has not sufficiently emphasized the individual's (organizational member's) role in value processing. Organizations consist of differentindividuals with personal values, at all hierarchical levels. The aim in this study is to let the individual take the floor. Very often the value process is described starting from the value definition and ending at dissemination, and the real results are left without attention. I wish to contribute to this area. Values are published officially in annual reports etc. as a 'goal' just like profits. Still, the results/implementationof value processing is rarely followed, at least in official reports. This is a very interesting point: why do companies espouse values, if there is no real control or feedback after the processing? In this study, the personnel in three different companies is asked to give an answer. In the empirical findings, there are several results which bring new aspects to the research area of organizational values. The targets of value processing, factors effecting value processing, the management's roles and the problems in value implementation are presented through the individual's perspective. The individual's perceptions in value processing are a recurring theme throughout the whole study. A comparison between the three companies with diverse value processes makes the research complete

Integration and Implementation of Accounting Information Systems in Global Companies Case: The UPM-Kymmene Group

Tämän tutkielman tavoitteena on perehtyä globaalin yrityksen laskentatoimen tietojärjestelmien yhtenäistämiseen ja käyttöönottoon esimerkkinä UPM-Kymmene konsernin projekti. Tutkielmassa sovelletaan hermeneuttista tutkimusotetta. Teoreettisesti aihetta tarkastellaan globalisoitumisen ja laskentatoimen tietojärjestelmille asetettavien vaatimusten pohjalta, sekä järjestelmän muutosprosessin eri vaiheissa huomioon otettavien muuttujien perusteella. Yhtenäisen laskentatoimen tietojärjestelmän tuomat edut globaalille yritykselle ovat ilmeisiä. Ennen yhtenäisen projektin kehittelyä on olennaista tutkia lähtökohdat projektin onnistumiselle ja suunnitella projektin eri vaiheet huolella. Tutkielmassa havaitaan myös, että globaalissa yrityksessä tulee huomioida eri yrityskulttuurit sekä tulosyksiköiden erilaiset toimintatavat. Johtopäätöksenä todetaan, että sekä yritysjohdon että tulosyksiköiden sitoutuneisuus projektiin ja yhtenäiset tavoitteet ovat oleellisia projektin onnistumisen kannalta.

Lean Innovation in Large Companies: a Case of Implementation in R&D

The main objective of the study is to evaluate the impact of Lean Innovation management philosophy on the creativity potential of the large multinational enterprise. A theory of Lean Innovation indicates that the modern company in any industry can successfully combine both waste-decreasing approach and innovative potential promotion through creativity cultivation or, at least, preservation. The theoretical part of the work covers the main factors, pros and cons of Lean thinking and Innovation management separately, along with generalized new product development overview. While the modern international market becomes more accessible for entrepreneural initiatives, small enterprises and start-ups, large international corporations are more subject to adopt the Lean Innovation approach in both operational and product development sectors due to extended resources and capabilities. Moreover, a multinational enterprise is a highly probable pioneer in Lean innovation implementation. The empirical part of the thesis refers to a case of large European enterprise, operating in many markets around the globe, that currently undergoes innovation management adjustments and implementations in product development while already have related themselves with operational process optimization process through Lean thinking. A goal of the work is to understand what kind of difficulties and consequences a large international firm faces when dealing with Lean Innovation to improve own performance, if they can be sealed for generalized approach.

The early activities of front end of innovation in oem companies using a new fei platform as a framework for renewal

The main goal of this study is to create a seamless chain of actions and more detailed structure to the front end of innovation to be able to increase the front end performance and finally to influence the renewal of companies. The main goal is achieved through by the new concept of an integrated model of early activities of FEI leading to a discovery of new elements of opportunities and the identification of new business and growth areas. The procedure offers one possible solution to a dynamic strategy formation process in innovation development cycle. In this study the front end of innovation is positioned between a strategy reviews and a concept creation with needed procedures, tools, and frameworks. The starting point of the study is that the origins of innovation are not well enough understood. The study focuses attention on the early activities of FEI. These first activities are conceptualized in order to find out successful innovation initiatives and strategic renewal agendas. A seamless chain of activities resulting in faster and more precise identification of opportunities and growth areas available on markets and inside companies is needed. Three case studies were conducted in order to study company views on available theory doctrine and to identify the first practical experiences and procedures in the beginning of the front end of innovation. Successful innovation requires focus on renewal in both internal and external directions and they should be carefully balanced for best results. Instead of inside-out mode of actions the studied companies have a strong outside-in thinking mode and they mainly co-develop their innovation initiatives in close proximity with customers i.e. successful companies are an integral part of customers business and success. Companies have tailor-made innovation processes combined their way of working linked to their business goals, and priorities of actual needs of transformation. The result of this study is a new modular FEI platform which can be configured by companies against their actual business needs and drivers. This platform includes new elements of FEI documenting an architecture presenting how the system components work together. The system is a conceptual approach from theories of emergent strategy formation, opportunity identification and creation, interpretation-analysis-experimentation triad and the present FEI theories. The platform includes new features compared to actual models of FEI. It allows managers to better understand the importance of FEI in the whole innovation development stage and FEI as a phase and procedure to discover and implement emergent strategy. An adaptable company rethinks and redirects strategy proactively from time to time. Different parts of the business model are changed to remove identified obstacles for growth and renewal which gives them avenues to find right reforms for renewal.

Innovation Benchmark Study: Analysis of Innovation Processes in Finnish Companies

Liikevaihdon orgaaninen kasvu on ensisijainen tekijä ja haaste yritysjohdolle yrityksen omistaja-arvon kasvattamiseksi. Tutkimus tarkastelee suosivatko suomalaisyritykset pääasiallisesti olemassa olevaa liiketoimintaa palvelevia innovaatioita vai tukevatko nykyhetken toimintatavat myös uusia kasvua kiihdyttäviä radikaaleja innovaatioita. Lisäksi työ kartoitti suomalaisyritysten innovaatioprosessien kehitysalueita käyttäen itsearviointitutkimusta.Tulokset johtivat kolmeen johtopäätökseen. Tutkimus osoitti, että vastaajayritykset ovat keskittyneet innovaatiotoiminnassaan vahvasti ydinliiketoimintaansa, jättäen potentiaaliset kasvumahdollisuudet huomioimatta. Yritykset tavoittelevat maksimaalisia tuottoja keskittymällä tuotteidensa korkeaan suorituskykyyn. Lyhyen aikavälin epärealistiset tuotto-odotukset sekä projekteille suunnatut arviointikriteerit rajoittavat liiketoimintaa mullistavien radikaalien innovaatioiden kehittymistä organisaatiossa. Toiseksi, tutkimus osoitti, että suuri osa yrityksistä käyttää perinteisen projektien arviointi- ja kehitysprosessin lisäksi vaihtoehtoisia ja huonosti kontrolloitavissa olevia kehitysprosesseja, mikäli projektille annetaan kielteinen rahoituspäätös standardin prosessin sisällä. Kolmanneksi, suomalaisyritysten innovaatioprosesseissa paljastui merkittäviä puutteita mitattavien elementtien suhteen.

Business competence and training needs in Finnish companies operating in the Leningrad Region

Tässä pro gradu -työssä tutkitaan Leningradin alueella, Venäjällä, toimivien suomalaisyritysten liiketoimintaosaamisen koulutustarpeita. Tavoitteena on ollut tutkia, millaisia yritysten koulutustarpeet ovat, sekä lisäksi selvittää yleisemmällä tasolla, miten liiketoimintaosaaminen määritellään. Useat tutkimusta varten haastatellut johtajat pitävät liiketoimintaosaamista erityisesti markkinoilla toimimiseen liittyvänä osaamisena. Myös johtaminen, sekä tuotteet ja teknologia nähdään liiketoimintaosaamisen tärkeinä osina. Yrityksillä on koulutustarpeita seuraavilla alueilla: johtaminen; myynti, markkinat ja asiakkaat; yrityksen sisäinen yhteistyö; kielet, sekä juridiikka ja laskentatoimi. Haastateltavien mukaan markkinoiden nopea kehitys sekä yrityksen kasvu luovat yrityksille koulutustarpeita. Yllättäen myös Venäjän koulutusjärjestelmää itsessään pidetään koulutustarpeiden syynä. Tutkimuksessa mukana olleiden yritysten koulutuskäytännöt ovat keskenään melko erilaisia: koulutusbudjetti, koulutuspäivien määrä ja koulutusorganisaation valintakriteerit vaihtelevatyrityksestä riippuen. Joka tapauksessa yleisin koulutusmuoto näyttää olevan yrityksen sisäinen koulutus. Monet haastateltavat painottavat suuresti uusien työntekijöiden kouluttamista. Selvästikin rekrytointi ja uusien työntekijöiden koulutus vievät suuren osan tutkimusta varten haastateltujen johtajien ajasta. Tärkeä huomio koulutusmarkkinoihin liittyen on se, että lyhyiden, kaikille avoimien koulutusten kohdalla markkinat ovat Pietarissa täynnä. Suurimpana uhkana nähdään alalla vallitseva kouluttajapula.

Innovation and Internationalisation in Russian Companies: Challenges and Opportunities for Open Innovation and Cooperation

Increasing globalisation and intensified cross-border cooperation, together with significant technological breakthroughs, create a fascinating gap for the research of the relationship between internationalisation and innovation on national, regional and company levels in Russia. The intensified international trade between countries and regions benefited from favourable institutional conditions, and facilitated the technology transfer and the development of innovations on the national level. This study approaches the same question from the company perspective; if certain companies are more innovative than other domestic companies, will they start internationalisation more easily or get involved in cooperation with international stakeholders? When companies operate in international markets, how do they obtain knowledge? Moreover, would this new knowledge from the foreign market help then to increase innovativeness, competitiveness and develop operations in domestic/local and foreign markets? Considering the role of foreign direct investments (FDI), the research in hand tries to find out the role of companies with FDI on the other players on the home market. Do foreigners bring new technology, innovation to the country? Is there spillover effect observed and how local companies can benefit from them? This dissertation studies the internationalisation and innovation in Russian companies, both from the outward internationalisation and inward internationalisation perspectives. Russian companies developed quickly during the transition period, after the dissolution of the Soviet Union. The common background of these companies, the effects of the change of ownership, and some managerial difficulties make them more sensitive to competitions issues, and in this context, the opportunities brought by the developing innovations are seen in companies and on the governmental level.

APROS model validation in case of fast transients in a boiling water reactor

This Master´s thesis investigates the performance of the Olkiluoto 1 and 2 APROS model in case of fast transients. The thesis includes a general description of the Olkiluoto 1 and 2 nuclear power plants and of the most important safety systems. The theoretical background of the APROS code as well as the scope and the content of the Olkiluoto 1 and 2 APROS model are also described. The event sequences of the anticipated operation transients considered in the thesis are presented in detail as they will form the basis for the analysis of the APROS calculation results. The calculated fast operational transient situations comprise loss-of-load cases and two cases related to a inadvertent closure of one main steam isolation valve. As part of the thesis work, the inaccurate initial data values found in the original 1-D reactor core model were corrected. The input data needed for the creation of a more accurate 3-D core model were defined. The analysis of the APROS calculation results showed that while the main results were in good accordance with the measured plant data, also differences were detected. These differences were found to be caused by deficiencies and uncertainties related to the calculation model. According to the results the reactor core and the feedwater systems cause most of the differences between the calculated and measured values. Based on these findings, it will be possible to develop the APROS model further to make it a reliable and accurate tool for the analysis of the operational transients and possible plant modifications.

Measuring the performance of corporate events : an empirical study of measuring practices in Finnish companies

Corporate events as an effective part of marketing communications strategy seem to be underestimated in Finnish companies. In the rest of the Europe and the USA, investments in events are increasing, and their share of the marketing budget is significant. The growth of the industry may be explained by the numerous advantages and opportunities that events provide for attendees, such as face-to-face marketing, enhancing corporate image, building relationships, increasing sales, and gathering information. In order to maximize these benefits and return on investment, specific measurement strategies are required, yet there seems to exist a lack of understanding of how event performance should be perceived or evaluated. To address this research gap, this research attempts to describe the perceptions of and strategies for evaluating corporate event performance in the Finnish events industry. First, corporate events are discussed in terms of definitions and characteristics, typologies, and their role in marketing communications. Second, different theories on evaluating corporate event performance are presented and analyzed. Third, a conceptual model is presented based on the literature review, which serves as a basis for the empirical research conducted as an online questionnaire. The empirical findings are to a great extent in line with the existing literature, suggesting that there remains a lack of understanding corporate event performance evaluation, and challenges arise in determining appropriate measurement procedures for it. Setting clear objectives for events is a significant aspect of the evaluation process, since the outcomes of events are usually evaluated against the preset objectives. The respondent companies utilize many of the individual techniques that were recognized in theory, such as calculating the number of sales leads and delegates. However, some of the measurement tools may require further investments and resources, thus restricting their application especially in smaller companies. In addition, there seems to be a lack of knowledge of the most appropriate methods in different contexts, which take into account the characteristics of the organizing party as well as the size and nature of the event. The lack of inhouse expertise enhances the need for third-party service-providers in solving problems of corporate event measurement.

Family ownership – a source of sustainable success in listed companies

Extant research on exchange-listed firms has acknowledged that the concentration of ownership and the identity of owners make a difference. In addition, studies indicate that firms with a dominant owner outperform firms with dispersed ownership. During the last few years, scholars have identified one group of owners, in particular, whose ownership stake in publicly listed firm is positively related to performance: the business family. While acknowledging that family firms represent a unique organizational form, scholars have identified various concepts and theories in order to understand how the family influences organizational processes and firm performance. Despite multitude of research, scholars have not been able to present clear results on how firm performance is actually impacted by the family. In other words, studies comparing the performance of listed family and other types of firms have remained descriptive in nature since they lack empirical data and confirmation from the family business representatives. What seems to be missing is a convincing theory that links the involvement and behavioral consequences. Accordingly, scholars have not yet come to a mutual understanding of what precisely constitutes a family business. The variety of different definitions and theories has made comparability of different results difficult for instance. These two issues have hampered the development of a rigorous theory of family business. The overall objective of this study is to describe and understand how the family as a dominant owner can enhance firm performance, and can act a source of sustainable success in listed companies. In more detail, in order to develop understanding of the unique factors that can act as competitive advantages for listed family firms, this study is based on a qualitative approach and aims at theory development, not theory verification. The data in this study consist of 16 thematic interviews with CEOs, members of the board, supervisory board chairs, and founders of Finnish listed-family firms. The study consists of two parts. The first part introduces the research topic, research paradigm, methods, and publications, and also discusses the overall outcomes and contributions of the publications. The second part consists of four publications that address the research questions from different viewpoints. The analyses of this study indicate that family ownership in listed companies represents a structure that differs from the traditional views of agency and stewardship, as well as from resource-based and stakeholder views. As opposed to these theories and shareholder capitalism which consider humans as individualistic, opportunistic, and self-serving, and assume that the behaviors of an investor are based on the incentives and motivations to maximize private profits, the family owners form a collective social unit that is motivated to act together toward their mutual purpose or benefit. In addition, socio-emotional and psychological elements of ownership define the family members as owners, rather than the legal and financial dimensions of ownership. That is, collective psychological ownership of family over the business (F-CPO) can be seen as a construct that comprehensively captures the fusion between the family and the business. Moreover, it captures the realized, rather than merely potential, family influence on and interaction with the business, and thereby brings more theoretical clarity of the nature of the fusion between the family and the business, and offers a solution to the problem of family business definition. This doctoral dissertation provides academics, policy-makers, family business practitioners, and the society at large with many implications considering family and business relationships.

MARKETING COMMUNICATIONS IN B2B COMPANIES – The Roles of Marketing Communication Tools in the Digital Age

Marketing communications has gone through significant changes during the last decades and new online tools have been leading this change for the last decade. Now, in the digital age, if wanting to be successful companies need to experiment new things and seize the opportunities online provides and adapt to the new environment. However, during this time the marketing communication mix and the meanings given to the various components of it have not changed dramatically, and personal selling, direct marketing, sales promotion, advertising and public relations activities are still regarded as important tools in the marketing communications mix. The purpose of this study was to examine business-to-business marketing communications and the tools used by companies in their marketing communications efforts in the digital age and in a global environment. The research questions dealt with the marketing communication tools and their roles as well as the role of online marketing communication and the way it has shaped the field of b2b marketing communications. In order to answer these questions, qualitative approach was chosen and the data was collected by theme interviews with six representatives of Finnish global companies from the b2b sector being interviewed. The theoretical framework covers the general field of b2b marketing communications and its main elements. The online environment as well as the concept of a global marketplace and integrated approach to marketing communication activities is also discussed. The theory was supported by the interviews regarding the activities and roles of the marketing communication tools and both theory as well as the interviews found personal selling to be a vital tool. However, the importance of online has grown and online marketing activities have risen right next to personal selling. The use of analytics and marketing automation was found to be of great interest in the interviews and they were seen as a growing domain in b2b marketing communications. The importance of targeted and personalised messages from relevant medias was a repeating theme as was the customer-centric approach in marketing communication activities. Also, offline and online tools and channels were seen as something that should be treated together as an entity rather than as separate activities. Relevant content created according to the needs of the customer with the gathered data from analytics were seen as the future of b2b marketing communications. Online has added its input to the more traditionally perceived tools and they are executed within the framework of the digital age. Nevertheless, even though online has increased its presence in the b2b marketing communications mix, the more traditionally perceived marketing communication tools, especially personal selling, have not lost their meaning or place in the b2b marketing communication mix.

Risk management in transportation companies: Russian and Finnish practices

Development of risk management practices became significant part of transportation companies’ strategy. Evolution from insurance management into enterprise risk management (ERM) led to development of risk management tools and methods. The purpose of this thesis is to design technique for evaluation of risk management practices of national transportation companies. The empirical research is made on the example of Russian and Finnish transportation companies. The required data was conducted with a help of survey. The result of the thesis is designed technique for risk management practices evaluation that allows to compare practices of different countries and organizations with different characteristics. The Master thesis has novelty in theoretical and practical contribution. It was designed new technique based on realization of the method of APIS. Moreover, it has practical implication as managers can utilize this method for comparison of practices between different countries, different organization and even different units within particular organization.